New Armed Forces pension proposed

The scheme will also deliver on the approach set out in Lord Hutton's Independent Public Service Pensions Commission report to reform pensions and ensure that they are more affordable and sustainable in the long-term. Changes will not affect accrued rights of those currently serving or the age at which their accrued benefits can be drawn. Unlike other public service pension schemes, Service personnel will still not have to make personal contributions, and will still receive a lump sum if they leave the Armed Forces at age 40 if they have served the required number of years, again unlike any other public service pension. The Normal Pension Age will be 60, whereas for other public service pensions the Normal Pension Age will be linked to the State Pension Age, which is considerably higher. The Minister for Defence Personnel, Welfare and Veterans, Andrew Robathan, said: "The ...